Insurance Core Principles and ComFrame

The Insurance Core Principles (ICPs), as adopted by the IAIS, are available on this page. ICPs are also available on the online IT tool which provides convenient and flexible access to the material.

In a brief video that forms part of FSI Connect, the e-learning platform of the Financial Stability Institute, IAIS Secretary General Jonathan Dixon explains the rationale behind the ICPs, the key areas covered, the structure of the ICPs and how their observance can be assessed.

FSI Connect is available by subscription only to eligible public sector authorities. IAIS sponsors a number of FSI Connect licenses for distribution to its Members. Please contact us at IAIS.FSIConnect@bis.org for further information.

The Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame), adopted in November 2019, establishes supervisory standards and guidance focusing on the effective group-wide supervision of Internationally Active Insurance Groups (IAIGs).

ComFrame is a comprehensive and outcome-focused framework aimed at facilitating effective group-wide supervision of IAIGs, by providing qualitative and (in a future phase) quantitative supervisory minimum requirements tailored to the international activity and size of IAIGs. This should help supervisors address group-wide risks and avoid supervisory gaps. One of the main objectives of ComFrame is to support coordination of supervisory activities between the group-wide supervisor and other involved supervisors. As such, ComFrame will provide supervisors with a common language for the supervision of IAIGs.

The ICP Self-Assessment Tool (SAT) is a joint initiative of the IAIS and the A2ii. It uses the analytic tools from the Peer Review Process (the self-assessment questionnaire and the scoring criteria). By filling out questionnaires on the SAT page (https://icp-selfassessment.org), supervisors can assess the level of observance of the Insurance Core Principles (ICPs). The results are generated immediately after the completion of a questionnaire.